US-China conflict casts shadow over SET

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The Stock Exchange of Thailand (SET) Index on Tuesday (September 8) opened around 1,302.73 points, decreasing by 9.22 points or 0.70 per cent from Thursday’s close.

As of 10.46am, The Stock Exchange of Thailand (SET) Index on Tuesday (September 8) fell 10.17 points in morning trading to 1,301.78 points, down 0.78 per cent from Thursday’s close.

On Thursday (September 3), before the long weekend, the SET had closed at 1,311.95, down 3.93 points or 0.30 per cent. Total transactions amounted to Bt50.337 billion with an index high of 1,322.66 and a low of 1,308.84.

Krungsri Securities analysts said that the stock market trend on Tuesday would be negative. The SET would decrease to 1,300 points, due to investors’ concerns over the trade war between the US and China, which could be more severe in the future after the US banned Chinese company SMIC.

At the same time, the stock market would be pressured by the crude oil price that was lower than $40 per barrel. This was the first time it had fallen below $40 in the past two months, caused by the hurricane situation, investors’ concerns over an economic recovery, and the strengthened US currency.

The securities analysts advised investors to pick stocks of corporations that would grow in the third quarter, such as CPF, GFPT, TU, ASIAN, KCE, HANA, DELTA, HMPRO, GLOBAL DOHOME, COM7, JMT, CHG, BCH, PTG, PLANB, and CBG. It added that TASCO, ECF, and AAV would benefit from the fall in the price of crude oil.

https://www.nationthailand.com/news/30394169

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